Del Monte Foods Corporation II Inc. has selected three bidders in its court-supervised auction process. 

The company, which filed for Chapter 11 bankruptcy in July, has negotiated asset purchase agreements with the three parties for substantially all its assets and business operations.

Del Monte Foods is selling its vegetable, tomato and refrigerated fruit business assets to Fresh Del Monte Produce Inc. for $285 million. Subject to court approval and applicable regulatory clearances, the transaction is set for closure in the first quarter of 2026.

The transaction brings the Del Monte brand under a single owner for the first time in nearly four decades. By pairing established pantry brands with Fresh Del Monte’s global fresh-produce supply chain, operational capabilities and innovation engine, Fresh Del Monte expects to strengthen brand consistency, expand consumer reach, enhance efficiency and support long-term value creation.

“Bringing the Del Monte brand back together reflects a long-held conviction of mine,” says Mohammad Abu-Ghazaleh, Fresh Del Monte’s chairman and CEO. “By uniting fresh and shelf-stable food under one strategy, we are honoring the brand’s legacy while supporting it for continued relevance and growth. It allows us to show up more consistently for consumers and to build a stronger, more flexible platform focused on efficiency, innovation, and long-term value creation.”

Specifically, Fresh Del Monte would acquire:

• Prepared and packaged foods businesses comprising vegetable, tomato and refrigerated fruit business assets, including Del Monte and S&W packaged vegetable brands; Del Monte, Contadina and Take Root Organics packaged tomato brands; the Del Monte refrigerated fruit brand; and the JOYBA beverage brand
• An operational footprint including facilities in Texas, Illinois, Wisconsin and Washington; two facilities in Mexico; and one operation in Venezuela
• Material customer and supplier contracts and inventory at closing to support uninterrupted service
• Global ownership of the Del Monte brand, subject to existing licensing arrangements across different regions and categories, including all U.S. rights to the Del Monte, S&W, Contadina and Joyba trademarks, as well as certain operating assets and employees in the United States, Mexico and Venezuela.

Following closing, Fresh Del Monte plans to steward the acquired brands through a dedicated business unit, ensuring continuity for retailers, foodservice partners, suppliers and consumers, with no immediate changes expected to products on shelf.

Fresh Del Monte intends to finance the acquisition through a combination of cash on hand and availability under its revolving credit facility.

Del Monte Foods Corporation is also selling all assets in its broth and stock business segment, including the College Inn and Kitchen basics brands, to B&G Foods for $110 million in cash. Also subject to court approval and customary closing conditions, the transaction is set to close in the first quarter of 2026.

“We are very excited to be the winning bidder for Del Monte’s broth and stock business and to add the College Inn and Kitchen Basics brands to the B&G Foods portfolio,” says Casey Keller, president and CEO of B&G Foods. “The College Inn and Kitchen Basics brands complement our existing portfolio of brands. College Inn and Kitchen Basics are pantry staples for consumers seeking to prepare high-quality, innovative and versatile meals at home. This acquisition is consistent with our longstanding acquisition strategy of targeting well-established brands with defensible market positions and strong cash flow at reasonable purchase price multiples.”

Del Monte Foods Corporation is also selling its shelf-stable fruit business assets (other than production assets), including the rights and licenses to use the Del Monte and S&W brands for shelf-stable packaged ambient fruit and ambient fruit sauces, in the United States (including Puerto Rico) and Mexico.

"This outcome represents a successful result in our sale process and demonstrates the enduring value of Del Monte Foods' brands and operations," says Del Monte Foods Corporation CEO Greg Longstreet. "These transactions will create an opportunity for our beloved brands and businesses to thrive under the ownership of three of the leading companies in the food industry. We are committed to working closely with all parties to support a smooth transition of operations and are grateful to our team members, customers and vendor partners for their steadfast commitment and meaningful contributions to Del Monte Foods during this pivotal time."

Del Monte Foods continues to serve customers and fulfill orders across its portfolio of brands at this time. The company says it remains committed to supporting its team members, growers, vendors, and suppliers.